The Law Society has warned that the Foreign and Commonwealth Office’s (FCO) decision to cease publishing its annual report on human rights abuses worldwide could mean that British businesses will be exposed to an increased ‘risk factor’ overseas.

In 1997 the then foreign secretary Robin Cook introduced the FCO’s annual human rights report as part of New Labour’s commitment to an ethical foreign policy.

However, in a bid to achieve cost savings, the FCO has said it is ‘looking at alternatives to the expensive glossy publications of the past’ and that ‘final decisions’ about replacing the report ‘will be announced in due course’.

Law Society President Linda Lee said: ‘Human rights are increasingly a prominent risk factor in business. Britain's commercial sector relies on the FCO’s worldwide assessment of human rights as it looks to invest and develop in other markets. The growing commitment of British business to global corporate responsibility will suffer a setback without this vital source of information.’

Human Rights Watch (HRW) UK director Tom Porteous said: ‘There are concerns that human rights may be downgraded because of budget cuts and the FCO’s role in promoting UK commerce. That is why it is important that the FCO publishes an explicit statement on its human rights policies so that organisations like HRW can monitor its performance.’